Nifty /Banknifty Trading Strategies for 17th feb

Nifty Day Trading Levels for 17 February 2011

Market turned to sidelines after three consecutive bullish trading sessions which pushed the market up 4.6 %. The S&P CNX NIFTY closed at 5481.70, up 0.70 points or 0.01 %. The Indian VIX which is currently at 23.05 and it was up by 0.88 % or 0.20 points indicates that the market will continue to volatile in the short term. NIFTY Futures closed at 5494, up by 17.90 points or 0.33 %. It is looking bullish in the coming trading session if it manages to break the resistance level of 5566 else below 5450 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5566 & above this level the next resistance is seen near the 5625 mark.

SUPPORT: It has first support close to the level of 5450 & below this level the next support is seen near 5400 mark.

Bank Nifty Day Trading Levels for 17 February 2011

Bank Nifty Futures closed at 10966.25, up 30.25 points or 0.28 %.In banking sector index scrip South India Bank and Axis Bank lead the row. Dhanlaxmi Bank and City Union Bank gained 4.62 % or 1.15 % respectively. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11040 else below 10690 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11040 & above this level the next resistance is seen near the 11265 mark.

SUPPORT: It has first support close to the level of 10690 & below this level the next support is seen near 10480 marks.

For Today’s future Calls & Nifty levels CLICK HERE